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Red Lobster Announces, Nearly 100 Locations , Will Be Shut Down.<br/>NBC reports that approximately 99 Red Lobster locations <br/>will be auctioned off as the seafood chain faces <br/>questions regarding the company's long-term future.<br/>Founder and CEO of the liquidation firm TAGeX Brands, <br/>Neal Sherman, said he would lead the closure of over <br/>50 locations in a May 13 LinkedIn post.<br/>Sherman said equipment from the <br/>locations will be auctioned off.<br/>Locations will reportedly be closed across <br/>the United States, including Denver, <br/>Indianapolis, California and New York.<br/>On May 14, Restaurant Business Magazine reported <br/>a total of 99 locations would close, representing <br/>about 15% of the company's 700 locations. .<br/>NBC reports that the largest seafood <br/>restaurant in the U.S. has struggled with debt, <br/>unfavorable leases and executive turnover.<br/>The chain's troubles also stem from ill-advised <br/>strategies like an all-you-can-eat-shrimp promotion <br/>in 2023 that resulted in a significant loss.<br/>Earlier in 2024, the chain's largest investor, <br/>Thai Union, announced that it would <br/>seek to exit its position. .<br/>The combination of Covid-19 pandemic, <br/>sustained industry headwinds, higher <br/>interest rates and rising material and <br/>labor costs have impacted Red Lobster, <br/>resulting in prolonged negative <br/>financial contributions to <br/>Thai Union and its shareholders, Thiraphong Chansiri, Thai Union Group’s CEO, via NBC.<br/>After detailed analysis, we have <br/>determined that Red Lobster’s <br/>ongoing financial requirements <br/>no longer align with our capital <br/>allocation priorities and <br/>therefore are pursuing an exit <br/>of our minority investment, Thiraphong Chansiri, Thai Union Group’s CEO, via NBC

Red Lobster Announces Nearly 100 Locations Will Be Shut Down

⏲ 1:31 👁 116.2M

USG Corporation

Advanced Manufacturing at USG

⏲ 4 minutes 56 seconds 👁 2.4K

Ever Wonder How USG Sheetrock® Brand Is Made?

⏲ 1 minute 39 seconds 👁 23.4K

Hear from the managers ahead of week 38, the final week of the 23-24 Premier League season, including both title contenders, Manchester City boss Pep Guardiola and Arsenal boss Mikel Arteta and from Liverpool's Jurgen Klopp ahead of his final game in charge<br/>Various Locations, UK

23-24 Premier League Preview - Final Week

⏲ 3:42 👁 8.5M

Phil

Drywall Manufacturing - Built to Last Season 1 Video Short

⏲ 4 minutes 59 seconds 👁 21.4K

The Henry Ford

USG Walls | The Henry Ford’s Innovation Nation

⏲ 4 minutes 35 seconds 👁 1.2K

Popular national café chain Pret a manger is to open a second location in Worthing after its first branch opened in Worthing town centre last year. This one will be at the BP service station in Brighton Road.

New Pret a Manger to open in Worthing

⏲ 0:6 👁 19.6M

Eagle Valley Student Media

Inside American Gypsum

⏲ 7 minutes 46 seconds 👁 1.7K

Georgia-Pacific

Sweetwater Gypsum Wallboard Facility | Georgia-Pacific

⏲ 1 minute 13 seconds 👁 1.3K

Yeh Rishta Kya Kehlata Hai Today Full Episode Promo - 18 May 2024

Yeh Rishta Kya Kehlata Hai Today Full Episode Promo - 19 May 2024

⏲ 1:0 👁 3M

CBS Colorado

USG Corporation Is Expanding To Denver With A New 90,000 sqft Sheetrock Plant

⏲ 35 seconds 👁 149

CertainTeed

Drywall Finishing Made Easy - CertainTeed Gypsum

⏲ 16 minutes 👁 888.9K

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